Insider Selling: East West Bancorp, Inc. (NASDAQ:EWBC) Insider Sells 10,000 Shares of Stock

East West Bancorp, Inc. (NASDAQ:EWBC) insider Irene H. Oh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $98.50, for a total value of $985,000.00. Following the sale, the insider now owns 117,193 shares of the company’s stock, valued at $11,543,510.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

East West Bancorp Stock Performance

Shares of NASDAQ EWBC opened at $97.35 on Friday. East West Bancorp, Inc. has a 1 year low of $54.23 and a 1 year high of $101.31. The firm has a market cap of $13.49 billion, a P/E ratio of 12.29, a PEG ratio of 2.89 and a beta of 1.29. The stock has a fifty day moving average price of $85.59 and a two-hundred day moving average price of $79.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 0.92.

East West Bancorp (NASDAQ:EWBC) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $641.80 million. East West Bancorp had a return on equity of 16.07% and a net margin of 24.96%. During the same quarter last year, the business posted $2.02 earnings per share. Research analysts forecast that East West Bancorp, Inc. will post 8.31 EPS for the current fiscal year.

East West Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a $0.55 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.20 annualized dividend and a dividend yield of 2.26%. East West Bancorp’s dividend payout ratio is currently 27.78%.

Institutional Trading of East West Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in East West Bancorp in the first quarter worth approximately $3,961,000. Manning & Napier Advisors LLC acquired a new position in shares of East West Bancorp in the 2nd quarter worth $3,832,000. Inspire Investing LLC raised its position in shares of East West Bancorp by 197.8% during the first quarter. Inspire Investing LLC now owns 15,860 shares of the financial services provider’s stock worth $1,255,000 after purchasing an additional 10,535 shares during the period. Diversify Advisory Services LLC purchased a new stake in shares of East West Bancorp during the first quarter valued at $909,000. Finally, SG Americas Securities LLC purchased a new stake in shares of East West Bancorp during the second quarter valued at $852,000. 89.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler increased their price target on East West Bancorp from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Compass Point increased their target price on East West Bancorp from $93.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Truist Financial lifted their price target on East West Bancorp from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. StockNews.com raised East West Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their target price on East West Bancorp from $97.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, East West Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $99.46.

About East West Bancorp

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.